Surprise! Some area land values seem to be rising
Wednesday, November 21, 2018
WEST FARGO, N.D. — Brent Qualey realizes that what he's about to say will surprise many in Upper Midwest agriculture.
Despite poor crop prices and tough-to-achieve farm profitability, overall area land values have, in his experience, inched upward from a year ago, said Qualey, a veteran area real estate salesman and appraiser.
"Land prices are steadying up a little bit. That surprises a lot of people," Qualey said.
Qualey spoke Sept. 11 at the 38th annual Big Iron farm show in West Fargo. The three-day event ended Sept. 13.
The show focused on the biggest, newest types of farm equipment, as well as agricultural inputs. But Big Iron offered a number of seminars, too.
Qualey, with Farmers National, was part of a session that examined farmland values and rental rates. Also on the panel were two of his Farmers National colleagues, Kyle Nelson and Jayson Menke. Qualey and Nelson are based in Fargo, Menke in Grand Forks. The three are regular presenters at Big Iron.
Farmers National describes itself as "the nation's leading agricultural landowner services company."